Mettler-Toledo International (FRA:MTO) Beneish M-Score : -2.72 (As of Dec. 13, 2024)

View and export this data going back to 1997. Start your Free Trial

What is Mettler-Toledo International Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.72 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Mettler-Toledo International's Beneish M-Score or its related term are showing as below:

FRA:MTO' s Beneish M-Score Range Over the Past 10 Years
Min: -2.87 Med: -2.58 Max: -2.4
Current: -2.72

During the past 13 years, the highest Beneish M-Score of Mettler-Toledo International was -2.40. The lowest was -2.87. And the median was -2.58.

Mettler-Toledo International Beneish M-Score Historical Data

The historical data trend for Mettler-Toledo International's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Mettler-Toledo International Beneish M-Score Chart

Mettler-Toledo International Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.51

-2.66

-2.56

-2.40

-2.76

Mettler-Toledo International Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-2.56	-2.76	-2.76	-2.77	-2.72

Competitive Comparison of Mettler-Toledo International's Beneish M-Score

For the Diagnostics & Research subindustry, Mettler-Toledo International's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Mettler-Toledo International's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Mettler-Toledo International's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Mettler-Toledo International's Beneish M-Score falls into.

Mettler-Toledo International Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Mettler-Toledo International for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0228

0.528 * 0.9981

0.404 * 0.9925

0.892 * 0.9435

0.115 * 0.9837

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0561

4.679 * -0.049768

0.327 * 1.016

-2.76

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was €574 Mil.
Revenue was 860.036 + 879.531 + 851.873 + 857.388 = €3,449 Mil.
Gross Profit was 515.793 + 525.506 + 504.282 + 505.852 = €2,051 Mil.
Total Current Assets was €1,080 Mil.
Total Assets was €2,991 Mil.
Property, Plant and Equipment(Net PPE) was €712 Mil.
Depreciation, Depletion and Amortization(DDA) was €113 Mil.
Selling, General, & Admin. Expense(SGA) was €846 Mil.
Total Current Liabilities was €1,068 Mil.
Long-Term Debt & Capital Lease Obligation was €1,704 Mil.
Net Income was 190.576 + 206.065 + 163.308 + 169.456 = €729 Mil.
Non Operating Income was -0.702 + -3.526 + -8.575 + -10.534 = €-23 Mil.
Cash Flow from Operations was 229.454 + 239.223 + 174.788 + 258.14 = €902 Mil.

Total Receivables was €595 Mil.
Revenue was 883.087 + 906.494 + 867.441 + 998.455 = €3,655 Mil.
Gross Profit was 524.288 + 538.61 + 510.493 + 596.74 = €2,170 Mil.
Total Current Assets was €1,122 Mil.
Total Assets was €3,082 Mil.
Property, Plant and Equipment(Net PPE) was €715 Mil.
Depreciation, Depletion and Amortization(DDA) was €111 Mil.
Selling, General, & Admin. Expense(SGA) was €849 Mil.
Total Current Liabilities was €1,003 Mil.
Long-Term Debt & Capital Lease Obligation was €1,808 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(574.119 / 3448.828)	/	(594.964 / 3655.477)
	=	0.166468	/	0.16276
	=	1.0228

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(2170.131 / 3655.477)	/	(2051.433 / 3448.828)
	=	0.593666	/	0.59482
	=	0.9981

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (1079.607 + 712.193) / 2991.165)	/	(1 - (1121.507 + 715.127) / 3081.54)
	=	0.400969	/	0.403988
	=	0.9925

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	3448.828	/	3655.477
	=	0.9435

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(111.063 / (111.063 + 715.127))	/	(112.734 / (112.734 + 712.193))
	=	0.134428	/	0.136659
	=	0.9837

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(845.704 / 3448.828)	/	(848.733 / 3655.477)
	=	0.245215	/	0.232181
	=	1.0561

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((1704.387 + 1067.656) / 2991.165)	/	((1807.849 + 1002.986) / 3081.54)
	=	0.926744	/	0.912153
	=	1.016

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(729.405 - -23.337	-	901.605)	/	2991.165
	=	-0.049768

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Mettler-Toledo International has a M-score of -2.76 suggests that the company is unlikely to be a manipulator.

Mettler-Toledo International Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Mettler-Toledo International's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Mettler-Toledo International Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » Mettler-Toledo International Inc (FRA:MTO) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

MTD:USA MTD:Mexico 0K10:UK MTO:Germany

Address

1900 Polaris Parkway, Columbus, OH, USA, 43240

Website

https://www.mt.com

Mettler-Toledo supplies weighing and precision instruments to customers in the life sciences (around 55% of sales), industrial (around 39%), and food retail (around 6%) industries. Its products include laboratory and retail scales, pipettes, pH meters, thermal analysis equipment, titrators, metal detectors, and X-ray analyzers. Mettler leads the market for weighing instrumentation and controls more than 50% of the market for lab balances. The business is geographically diversified, with the Americas accounting for about 37% of sales, Europe about 26%, China about 19% and the rest of the world about 18%.

Mettler-Toledo International Headlines

No Headlines